Greece in bid to raise 1,6bn euros

percent at a previous sale on May 8.
Greeks goes back to the polls on Sunday, following an inconclusive election on May 6 that failed to give any party a majority or allow the formation of a coalition.
Greek voters are angry at two years of austerity measures, part of two EU-IMF bailout packages that have included steep salary and pension cuts as well as higher taxes.
The two main contestants are the conservative New Democracy party that has pledged to renegotiate some of the loan deal’s terms and the radical left Syriza party that has vowed to reject the agreement altogether.
If Greece’s creditors refuse to cut it more slack, the flow of aid will cease and the government could within weeks run out of money, potentially meaning that it leaves the eurozone.
Total bids in yesterday’s debt auction reached 2,669 billion euros and the amount finally accepted was 1,625 billion euros, according to the debt agency.
This was the first auction to be carried out after the departure of the agency’s director general Petros Christodoulou, who recently moved to Greece’s premier private bank, the National Bank of Greece (NBG). — AFP.